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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 23, 1976
Page
5
The market rides a surge in trading volume with record NYSE turnover and a Dow near 988 as institutions drive gains. Analysts warn against excessive optimism while noting improving profits, falling unemployment, and easing inflation despite mixed signals in car sales and housing starts.
Local brokers consider the market’s approach to the 1000 level with caution. Jim Augustine cites long-term gains and inflation as key factors, while Gordon Schubert notes pension inflows and monetary policy fueling the rally. Agents see broad bullishness but cannot predict when the 1000 point mark will be reached.
New York AP stock table lists selected NYSE issues with last prices highs lows and percent changes. The Dow related figures cover many companies such as Alcoa Amex Inc Boeing Chrysler Coca Cola and Citicorp with mixed gains and declines. The report also notes top gainers and decliners by percentage change and includes a Dow Jones summary of up and down stocks.
A dense list of NYSE price figures shows varied upticks and declines across many blue chips. Notable items include ConEd, Dow components, Exxon, Ford, General Electric, and IBM with percentages indicating daily shifts and trading levels.
London gold 131.25 up .25. IMM Mar gold 131.50. silver 4.22 up .37. platinum 138.70 up .30. copper 58.5c up .1. wheat 3.80 up .03. corn 2.69 2 up .44. soybeans 5.612 down .01. live cattle 48.10 new contract. live hogs 44.35 down .95. pork bellies 65.70 down 1.75. eggs 5.1c down .5. Maine potatoes 12.80 up .20. plywood 157.40 down 4.10. cotton 41.76 up .61. sugar 13.68 up .23. Market not closed.
About 6,000 Valley production and maintenance employees of Motorola's Semiconductor Group will get a general salary increase effective Sunday. The raise averages roughly $9 per employee per week, boosting annual local spending by about $3 million.
Ernest F. Hauser a Paradise Valley former Lockheed customer relations chief says the company raised airplane prices to fund bribes paid to foreign officials and taxpayers in those countries footed the bill through higher invoices and open-end contracts. He says the diary from 1961 62 links at least two top European officials to payoffs and has been studied by a Senate subcommittee.
Jerry Ballah operator of Fastrack International Raceway in Phoenix says he has had no connection with Beeline Corp since 1969. Ballah and Jim Tice of Kansas City were described as former Beeline Dragway operators. Ballah claims Beeline Corp debts exceeded 10 000 in a bankruptcy petition aimed at Tice.
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